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6119 Grape Blossom Avenue Las Vegas, NV 89142

2 Beds 1 Baths 1,310 sqft Built 1993

$253,000

List Price

$1,330

$1.2K - $1.5K

Rent Est.

$72,795

Investment Est.

PROPERTY INFO

January 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $193.13
  • 5 Days on Market
  • MLS # : 2259012
  • Updated Date : 01/07/2021 at 03:44
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,310 sqft
  • Baths : 1 full
Listing Agent

Realty One Group, Inc

Listing Agent's Description

Gorgeous well-kept one story that's the pride of home ownership! Beautiful tile flooring through all main living space. Open kitchen with plenty of room to cook for family gatherings. Den with closet that can be used as a third bedroom! Lots of garage shelving for those special projects! Recently painted interior. Water heater only a few years old! Recently replaced carpet in Primary bedroom and den as well as window blinds. Beautiful covered patio in the backyard that runs the length of the home with lots of space for outdoor entertaining! This pristine home won't last long at this price so schedule your showing today!!

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MARKET HIGHLIGHTS

Las Vegas Market Report
  • A $7.5 billion mixed-use 6-year project known as Bleutech Park Las Vegas is starting in December 2019. The project will incorporate environmental and technological features such as water purification, on-site waste treatment and localized air cleaning. Described as an “insular mini-city,” the plan calls for use of autonomous vehicles, AI, augmented reality, robotics and other advanced technologies. (reBusinessOnline - France Media, 2019)
  • Las Vegas metro's major employers include: MGM Resorts International, Caesars Entertainment Corporation, Stations Casinos, LLC., Wynn Resorts, Boyd Gaming Corporation, Las Vegas Sands Corporation, Walmart Stores, Cosmopolitan of Las Vegas, The Valley Health System and Supervalu (Las Vegas Sun, 2019)
  • Las Vegas metro's economy was worth $124.9 billion in Gross Metro Product in 2018 and projected to grow to $133.2 billion in 2019 (USMayors.org, 2018)
  • As the largest share, Las Vegas metro contributes to 75.1% of Nevada state's economy i.e. Gross State Product (USMayors.org, 2018)
  • Las Vegas metro has 61.2% labor force participation rate (USMayors.org, 2018)
  • Las Vegas metro's employment growth was at 2.6% in 2018 and predicted to grow at the rate of 1.7% in 2019 (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Orchards

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $84k296k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Orchards

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9651603

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Daniel Goldfarb Elementary School Primary Regular 838 38 6
Kathleen And Tim Harney Middle School Middle Regular 1,845 71 NA
Las Vegas High School High Regular 3,077 121 4

Daniel Goldfarb Elementary School

  • Education Level: Primary
  • # of students: 838
  • # of teachers: 38
6
GreatSchools Rating

Kathleen And Tim Harney Middle School

  • Education Level: Middle
  • # of students: 1,845
  • # of teachers: 71
NA
GreatSchools Rating

Las Vegas High School

  • Education Level: High
  • # of students: 3,077
  • # of teachers: 121
4
GreatSchools Rating
 

FINANCIALS

Learn how to read this

$227,700$278,300$253,000

PURCHASE PRICE

$1,197$1,463$1,330

RENT

DOWN PAYMENT
FINANCING
Learn how to read this

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,330
EXPENSES Loan Payment -$879
Property Tax -$149
Property Insurance -$53
Property Management Fees -$119
CASH FLOW
$131

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$253,000

PROJECTED PRICE

$1,330

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 11.3%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow

  • Appreciation

  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation

  • Principal

  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$72,795

INVESTMENT

$72,795

Down Payment		 $63,250
Rehab Estimate		 $5,750
Closing Costs		 $3,795

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$879

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $63,250
Loan Amount $189,750
See What Happens When You Reinvest Cash Flow

8.25

YEARS SAVED

$26,460

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,330

    LIST RENT

  • $1.02

    LIST RENT PER SQFT

  • $1,176

    COMP ESTIMATED VALUE

  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,095
1$1,0952$1,0953$1,1954$1,3005$1,330
$1,330
RENT COMPS ANALYSIS
  • 6119 Grape Blossom Avenue Las Vegas, NV 5
    • 2 beds 1 baths ∙ 1,310 Sqft ∙ Built 1993 2 beds 1 baths ∙ 1,310 Sqft ∙ Built 1993
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,330
    • $1.02
    •  
  • 5975 Red Raspberry Court Las Vegas, NV 1
    • 2 beds 2 baths ∙ 1,278 Sqft ∙ Built 2004 2 beds 2 baths ∙ 1,278 Sqft ∙ Built 2004
    property image
    LEASED 07/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,095
    • $0.86
    •  
  • 6495 Clara Bow #101 Las Vegas, NV 2
    • 2 beds 2 baths ∙ 1,218 Sqft ∙ Built 2007 2 beds 2 baths ∙ 1,218 Sqft ∙ Built 2007
    property image
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,095
    • $0.90
    •  
  • 2802 Canonero Las Vegas, NV 3
    • 2 beds 3 baths ∙ 1,307 Sqft ∙ Built 2006 2 beds 3 baths ∙ 1,307 Sqft ∙ Built 2006
    property image
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $0.91
    •  
  • 2080 Betty Davis Street Las Vegas, NV 4
    • 2 beds 3 baths ∙ 1,418 Sqft ∙ Built 2002 2 beds 3 baths ∙ 1,418 Sqft ∙ Built 2002
    property image
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.92
    •  
PROPERTY LISTING DETAILS
LISTING AGENT
Serena M Heuser
1.702.688.3909
Realty One Group, Inc
BUYER AGENT
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
SOURCE
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2259012
Last Updated: 01/07/2021

All returns, cash flow, and appreciation estimates are projections. Please review our Disclaimer for more information.

All values are rounded to the nearest dollar.
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